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NEW YORK ( TheStreet) -- The ex-dividend date for Teekay Offshore Partners (NYSE: TOO) is tomorrow, August 3, 2011. Owners of shares as of market close today will be eligible for a dividend of 50 cents per share. At a price of $29.22 as of 10:03 a.m. ET, the dividend yield is 7%. The average volume for Teekay has been 143,700 shares per day over the past 30 days. Teekay has a market cap of $1.8 billion and is part of the services sector and transportation industry. Shares are up 4.4% year to date as of the close of trading on Monday. Teekay Offshore Partners L.P. provides marine transportation and storage services to the offshore oil industry. The company has a P/E ratio of 23.5, above the average transportation industry P/E ratio of 22.5 and above the S&P 500 P/E ratio of 17.7.